Cooling Inflation and Retail Sales Raise Optimism of Rate Hikes End

Americans cut back on their retail spending in October, the first decline since March, and wholesale inflation dropped the most it has in over three years, signaling the economy is heading to a cooling stage. Retail sales declined 0.1 percent last month, compared with a substantial hike of 0.9 percent in September, according to a report from the Census Bureau released on Nov. 15. While retail sales fell for the first time in seven months, the data were below economists’ expectation of 0.3 percent decline for the month. September’s figure was adjusted to a 0.9 percent increase from the previous 0.7 percent rise. Excluding sales of motor vehicles, auto parts, and gasoline, retail sales increased 0.1 percent last month....